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20130201
20130228
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CNBC 16
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CNBC
Feb 7, 2013 7:00pm EST
the pentagon's budget and still protect national security. former defense undersecretary michelle flournoy, if identify got that right -- michelle flournoy, i beg your pardon, she penned an op-ed in the wall street journal this week. joining us is aforementioned michele flournoy. michelle, or undersecretary, which ever you prefer -- >> michelle, please. >> i thought your piece was terrific. sequester or not, defense department is going to lose 10% of its budget and you think there are good ways to do it. walk us through some of the key points. >> i do think the defense budget will come under pressure, even if we do get a deal. there are ways to reduce costs go after the defense enterprise rather than balance the budget on the back of the force. first cutting unnecessary overhead. the pentagon and d.o.d. has grown by more than 100,000 civilians in the last decade. we can pare those back now that we're coming out of a period of war. >> i thought your civilian argument was great. we've been through these wars and you're saying you can take it right back down without losing any national securi
CNBC
Feb 22, 2013 7:00pm EST
care benefit system in the pentagon needs to be overhauled and that these are where major savings are and that's where we should aim for, that the pentagon cannot be immune from this exercise. >> i wouldn't disagree at all. i think you can debate what kind of military defense strategy you wish, what kind of forces you plan on having, their technology, their training levels, all that should be on the table. but you've got to do it in a rational way. you've got to act like it's a business. the whole notion of cutting billions of dollars out of the defense budget, i just read one of the pundits announcing you can cut the defense budget by 2/3 and it wouldn't affect national security. and that all of this is political theater. it's anything but political theater. you know, dr. ash carter, the deputy's a very rational, bright fellow. very experienced. the chiefs of the services just testified under oath. they said this is going to be a big problem. and i think it is. >> and i agree with the general. because again, as i said, i'm not saying not to do cuts but let's do it smart. let's no
CNBC
Feb 25, 2013 2:00pm EST
expectations. they aren't any weaker. keeping in mind the defense industry for pentagon, coming from the pentagon and defense budget expected to be hard hit if the sequester gez through. back to you. >> i will pick it up from there. i'm glad you mentioned defense stocks. we will talk about that more in the show. rick santelli, how are treasuries reacting to the fun and games? >> same way as every market from the s&p to the euro currency to dollar index, we have seen a big reversal. we are now at a 187 yield having closed near that since the 24th of january. we close at 176 which means we are up 11 basis point on the year and maybe the most important issue is we can now somewhat get an idea of what the reasoning for higher rate has been. it's been so of the issues of funding in europe. we've isolated it. now if this is a reverend up um on the euro and i know i'm way too early jumping the gun on that. when it is hard to get something from the treasury market, today is a day of a bit of enlightenment. >> rick santelli, grazzi. see you again sometime here. >>> mark set struggling to find
CNBC
Feb 6, 2013 12:00pm EST
of cash. he was very confident pentagon ab -- confident being able to self-fund the transformation and key to whether they attract new customers. as far as comp sales issues, he is coming up against significantly softer comps this year and you may see growth. antidotally we heard their holiday period was pretty good and were able to attract new customers and get some traction. >> finally, stacy, i wouldn't call it a potshot but a shot across the bow the shorts saying investors these days try to make money in what he called short artificial ways. deserved or not? >> i think that's -- that's the environment. there will be short term investors looking at this stock. he wants us to focus on long term. the short term reality is comps are down 30 something percent probably this quarter. the short term is what we have to look at. >> fascinating stuff today. thank you very much for your insight. we'll talk to you later. let's get back to headquarters and the halftime. >>> carl thank you very much. we go to the halftime show. the dow is down a point. one market watcher says the s&p will drop 200 po
CNBC
Feb 25, 2013 1:00pm EST
article saying republicans would hit steep cuts hitting the pentagon. here is how the defense sector is fairing right now. shall we take a look if we don't have that, we will bring it to you when we do. john harwood, live in washington. hi, john. >> there is no more clarity around this budget sequester situation than there is about the italian elections that michelle was talking about earlier. you've got many republicans as well as democrats saying, either publicly or privately, oh, it's not that bad. if you're a democrat will it cut defense. some say okay, it'll cut spending overall. that's fine too. you have president obama with public pressure trying to convince the american people that bad things are going to happen and put pressure on republicans. he also sent senate remarks in the morning to the white house a way out for both sides. >> democrats, like me, need to acknowledge that we're going to have to make modest reforms in medicare if we want the program there for future generations and if we hope to maintain our ability to invest in critical things like education, research a
CNBC
Feb 5, 2013 3:00pm EST
ahead. >> here's the big challenges for apple. the pentagon chael challenge for a s&l that it's a really great wonderful product that's changed the world but ipad, it growth is not enough to make up for the slowing saturation of the smartphone market that -- that is happening because the iphone is being adopted and the rich people already have these things. you know, the ipad is a great product, but it's been so great, it hasn't been able to sort of do what the iphone has done. the iphone is a once in a lifetime product that was wonderful for apple's profit margins and we're just not going to see the likes of it again any time soon. >> not to pile on, colleen. you have to admit buzz is not there for apple and when you look at the stock price, it's down sharply from those highs last september when ironically they had just introduced the new iphone, so, you know -- it's a nice ipad, but where's the buzz for apple these days, colleen? >> listen, i agree, apple need to do a lot more to get this stock back, but the buzz isn't there because this is an enterprise story. this is a business story
CNBC
Feb 7, 2013 5:00pm EST
, so, it's a big story we're watching, as well. the pentagon, meantime, saying two ships will not be going to the persian gulf to save money, so, you'd think that would hurt shares of the defense stocks involved. nope. the uss truman and the uss gettiesburg both ships are staying put, yet shares of both companies moved up today. so did other defense names, except lockheed. goldman says, quote, we do not believe the market is materially pricing in the risk that sequestration will occur march 1st, melissa. >> you think in the dfx, just a few points away from its record high. >> yeah, and these stocks, jane mentioned lockheed martin, a tremendous run, up to 96. it's pulled back nine or ten, so, i'm still a big believer. general dynamics up a percent or so today. out of all of them today, i think lmt is the most interesting right here. >> jane? >> the ultimate sign of a housing recovery. barbie, the only blond older than i am, is seller her dreamhouse for $25 million on trulia. josh altman is her agent. the home covers 8,500 square feet, but that's a lie. i know this. it's on
CNBC
Feb 28, 2013 1:00pm EST
recently well. today we do have news from lockheed martin, the pentagon's biggest contractor suggesting that actually sales this year will drop by more if the automatic spending cuts kick in and future years will also be materially affected. what is your view on the sector? >> well, right now, there's just a lot of fear but there has been for some time. so there might be a certain degree of recovery, realizing that it is bad but not the apocolypse that some people have painted it as and there is a good chance that some damage might be undone in that interim period. so while we don't like living in uncertainty and while there will be paying under almost any scenario, it certainly doesn't mean the end. there are definitely positives for this industry in the sector. >> which is the greatest threats. automatic spending can cuts or the fact that you have a president who is in his second term and therefore perhaps more able to cut spending programs that might hit particular cities or regions and a new defense secretary. >> you know, it is interesting. of course a lot of that is simply by even
CNBC
Feb 7, 2013 4:00am EST
of peaked and it's showing some sign of a reversal. >> the pentagon is cutting the usair craft carrier fleet in the persian gulf to demonstrate the effect looming defense cuts could have on the military. it will have to trim flying hours and lockheed's fighter jets. billions of dollars in automatic cuts known as the sequester are set to take effect march 1st if congress doesn't delay or cancel them. outgoing secretary of defense leon panetta called lawmakers irresponsible. >> it is difficult to believe, frankly, that congress would simply stand aside, stand aside, fail to make the decisions necessary to resolve this crisis and allow the defense, economy and quality of life of america to be irreparably damaged. >> thou, some health and senate republics have offered a plan to cut the federal workforce and use those savings too void the full 85 billion sequester. a similar plan failed to gain any traction last year. however, will this time be different? mark parkinson, former governor of kansas, ceo, and a real pleasure to have you with us. >> great to be here this morning. thank you. >> we wou
CNBC
Feb 21, 2013 4:00am EST
billion in budget cuts set to begin in just eight days. on the same day, the pentagon outlined plan toes furlough some 800,000 civilian workers to save money. these interviews are part of the white house strategy to blame potential job losses on the gop. >> instead of us cutting education, instead of us cutting the mental health programs, instead of us affecting military readiness and a whole range of other things that are important to our security and prosperity, we should be focused on programs that we know don't work, waste in government, and some of these tax loopholes that we could close that frankly benefit the well off and well connected. >> now, congress isn't in session this week. it isn't expected to reach a deal by the march 1st deadline to prevent the sequester. so, ideal, the physical mini cliff continues. >>> david einhorn is taking his case against apple directly to the company's shareholders. he's seeking an injunction to get rid of a system to issue pressed stock. einhorn will hold a conference call with investors today, an interesting move and one that's seeing apple sh
CNBC
Feb 25, 2013 4:00am EST
discussing a deal to fun operations through to september. >>> and the pentagon says the grounding of lockheed martin's jets last week won't deliver the aircraft. there was a crack on a turbine blade on a test plane. speaking from australia, the fa says that type of problem is unfortunate but normal during development and testing. lockheed stock down 1%. >>> as the number of global smartphone users has reached the 1 billion mark, there have been a number using their mobile to make purchases. that's the subject for kelly in barcelona at the world mobile congress. do you have to use your spanish down there or you're okay, kelly? >> si, senior. i've been using a lot of spanish here, ross. right now, i'm joined by ed mcglaughlin from mastercard. ed, i haven't been speaking spanish with you necessarily. >> no. >> but we have been talking about the language of payments. and it does seem as though we're moving from, as you've said, a cash list to a credit card list society. what exactly is mastercard doing here? >> well, what we're announcing today is what we call master pass. everything starts becom
CNBC
Feb 6, 2013 4:00am EST
consequences. the incident took place near disputed islands on january 30 but took time to verify. the pentagon says both sides ought to avoid any acts that might spark conflict. >>> meanwhile, china is promising to make sweeping tax reforms to narrow the rich/poor suicide. plans approved by china -- divide. plans approved by china says the rich might pay more. in companies, taxes could rise 20% by 2015. there's talk of giving savers a better return. it's for tilting toward more consumption than investment spending. >>> an expected pickup in china is giving a reason to be more optimistic after a challenging 2012. the company said the net loss widened to nearly $4 billion in the fourth quarter last year. but the biggest steelmaker by volume expects profits to pick up amidst improving conditions. in china alone the company sees the steel market growing 3%. and the stock up 2% as a result. >>> and syngenta trades are lower today. the company reported full-year net profit of $1.8 billion. that was ahead of a reuters forecast. it expects another record sales year citing strong commodity prices. so w
CNBC
Feb 7, 2013 6:00am EST
to see you. i wanted to put this up. this is what's on the cover of "usa today." pentagon warns of huge cuts. when you think about what's going on in washington, right now, and you think about the sequester that may or may not happen, and you think about your history in washington, do you think that we will have the sequester? >> andrew, i don't know. i think it's a very complicated situation. i think we had a great opportunity and i actually thought there was some reasonable chance it might happen, which was to have a grand bargain that could have addressed what is really unsustainable and deeply dangerous long-term fiscal situation and i think if we had done that, not only would be useful for the long run but i think could have generated confidence in the shorter run and promote jobs now. now instead of that we have a happen has 5rd process. a sequester we're facing. it's a terrible piece of legislation. it arbitrarily cuts defense and nondefense without thoughtfully doing so. instead of being phased in so we'd have more room for recovery, it hits abruptly. and it's far, far from clea
CNBC
Feb 11, 2013 6:00am EST
's not going to be any opportunity to cut pentagon spending in any serious way if you don't go over the cliff. so there is some stuff in there that i as a democrat don't like. but i think everybody's going to put something in the pot in order to balance the deficit. we did a lousy job in january on the tax side and i hope that -- i think it's better to go over the cliff than do a lousy job -- >> how many people do you know on your side of the field who actually agree with you? >> very few. look they're politicians. they want to spend as much money as they possibly can and they don't want to pay for it. >> who agrees with you? >> oh, i don't know. i bet -- oh, god, joe agrees with me. >> you forgot. the other thing, howard, and i'm just alluding to it, there will be no return to the bush era tax rates on anyone under $400,000? >> right. >> okay. so take that amount of money, whatever that is per year. how much do you need -- how many loopholes do you need to close? what is the marginal rate have to be on people above 400 to replace that potential revenue? it's 100%, isn't it? >> but i don't --
CNBC
Feb 26, 2013 6:00am EST
taking the civilian workers when our country is still at war at the pentagon and putting them on four days a week work is still waste. let those who think they've identified waste and no doubt there are efficiencies that can be found put their proposals forward and let those proposals be weighed in the context of a balanced approach. the question isn't whether we should leave any category immune. the question is whether we should have a balanced approach. and to assume, before anyone has laid out any kind of vision of how that $85 billion a year could be cut, that it must be possible and that everything else has to be ruled out seems to me to be a extraordinarily irresponsible approach. of course there are instances of waste in the federal government. there are also instances of huge unmet needs of diseases where we could find cures that save tens of thousands of people's lives in the next several years. but we're cutting the budget instead and denying ourselves the chances to find those cures. of infrastructure investments where we're risking more bridges collapsing and all we're doi
CNBC
Feb 27, 2013 6:00am EST
, you don't care. >> i guess, but i don't. i don't care. >>> the pentagon chief for the f-35 warplane is slamming his partner lockheed martin. he's accusing them of trying to squeeze every nickel out of the u.s. government faults them for seeing the long-term benefits of the project. >>> and tesla ceo eland musk vowing to pay back an energy deficit loan in half the time required by the government. the company receives a doe loan in 2010 and made the first payment of nearly $13 million in december. >> by the way, did you see yesterday -- remember we had -- there was a big debate about the test drive of the tesla in "the new york times." >> yeah. uh-huh. >> and phil lebeau -- >> went well. then edmonds did one yesterday. >> how did that go? >> not so well. the whole interior screen that sort of is the hub of the whole car, it stopped working. >> i don't understand this debate anyway. if you want to go a long trip like that, wouldn't you take a different car? rent a car or -- >> yeah. phil made the point. this is what you do -- >> andrew made the point, too. >> if you feel green and you
Search Results 0 to 15 of about 16